Ingersoll-Rand Lowers Forecasts
For Quarter, Year as Sales Slip

Ingersoll-Rand Co. said second-quarter net income would be 25% to 30% lower than analysts' expectations of 77 cents a share due to slower sales coupled with continuing fixed costs.

Excluding one-time charges and gains, the maker of refrigeration, construction, manufacturing and security equipment expects earnings to be in the range of 54 cents to 58 cents a diluted share. Sales for the second quarter are expected to be down about 10%...